Newsletter, March 30th
🔥 What happened last week…
- More than 3M dollar already traded on Margin protocol
- Unveiling Synthereum, our Synthetic protocol
- JRT and Blocknative integration into Jarvis wallet
- Launch of our Gitcoin grant to help Jarvis
👨‍💻 Protocols
Margin Protocol
We have added Gold, Silver and Oil markets to the testnet version, and are now actively testing them before adding them to the mainnet.
To cope with this highly volatile times the liquidity provider from whom the prices are sourced have increased the spreads, so, unfortunately, spread for Forex and Indexes got a bit bigger than it used to be.
Nevertheless, we crossed the 3M USD volume traded milestone!
Synthetic Protocol
We finally unveil to the Ethereum community our protocol, which will go by the name Synthereum. So far the community reacted positively to it, which is very encouraging.
Read our article about Synthereum to understand how important this protocol is for our ecosystem:
To help us financing the security audit and the development, we have applied to UMA’s grant program as well as launched our Gitcoin’s grant. The latter is VERY important! You will have more detail in the business part of the newsletter.
Regarding the oracle front-running of this first version (named Bled) issue explained in the article, we came to the conclusion that we will not implement any protection to prevent it as it would cost more money to develop it than possible money loss from the exploit itself. Therefore we will soon launch Bled on the mainnet and start developing Opatija, the next version of Synthereum.
📱 Applications
Jarvis wallet
At the moment Unilogin team is working with Blocknative to finish the integration of their solution. Blocknative is a notification system which gives user-friendly feedback to the user while interacting with the Blockchain. This integration will highly increase the user-friendliness of the wallet.
You can now hold JRT in Jarvis wallet, but we still recommend you not to put too many funds in there until we move to the public version of the wallet. Not that it is unsafe but since we will change the URL of the wallet, it might create some friction to move funds to the new wallet.
Apple has announced recently that in order to increase the privacy of their browser Safari, they will automatically delete cookies and probably the local storage after 7 days if it's not used. On our web-based wallet, the private key is stored within the local storage.
Ultimately this means if someone is not gonna use our web-based wallet for 7 days, Safari (and maybe other browsers in the future) will delete users private key so they will lose access to their account. Of course, the user will be able to recover their funds using any of the supported backup mechanism or using another connected device, yet there is a chance that some users won’t do that and lose their funds.
It means we might be forced to change the roadmap and speed-up the development of mobile and desktop applications.
Regarding the burner wallet, we have pushed the team so they can finish the first version this week. Although it is a delay of 2 weeks, we are quite happy with the new team members, they can push themselves when needed, are motivated and skilled.
We have already started working on the v2, including the integration with Compound and Pooltogether, to hopefully finish it by the end of this month.
🚀 Business
We would like to thank everyone who donated for Synthereum on Gitcoin! Thanks to you we reached the 4th place in the DeFi category, and your donations will be now matched with an estimate 3,200 Dai.
Not only it will provide us with additional funding but also it gives us a nice exposure to the broad Ethereum community.
If you haven’t participated yet, or even if you had already done it, please consider to do so, your 1, 5 or 10 Dai donation will be highly appreciated!
If you are a bit confused with this we made a handy guide here.
Jarvis is not the only one which needs help. You can explore other grants and donate your spare Dai to cool projects. Remember that Paraswap is one of our partners, their technology will be integrated within our wallet, so supporting them is also supporting us.
This is all for now, stay safe, wash hands and see you next week!
Vsevolod.
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